Effective Federal Tax Rates
Uncategorized — By admin on March 22, 2008 at 9:47 pmThe Congressional Budget Office (CBO) has published an interesting document titled Historical Effective Federal Tax Rates: 1979 to 2005.
This is a fascinating document, because it breaks down taxes by who pays them. It shows us, for example, that the lowest earning quintile (20%) of taxpayers pay only .8% of all Federal taxes. On the other side, the top earning quintile of all taxpayers pay 68.7% of all federal taxes. The top 1% pay 27.6% of federal taxes.
Send this document to your liberal “friends” next time they complain to you that hard working Americans are not paying enough taxes to support the poor and unfortunae.
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